The salary statistics of loan officers in the industry sector of finance and insurance are shown in Table 1. In Table 2 we compare loan officer salaries in different industries within the finance and insurance sector.
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $31,270 |
| 25th Percentile Wage | $43,630 |
| 50th Percentile Wage | $62,010 |
| 75th Percentile Wage | $90,890 |
| 90th Percentile Wage | $130,720 |
Table 1 shows the average annual salary for loan officers in the industry sector of finance and insurance. The salaries are shown in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) loan officers is $130,720. The median annual salary (50th percentile) is $62,010. The average annual salary for the bottom 10 percent paid loan officers is $31,270.
The table and chart below show the trend of the median salary of loan officers in the industry sector of finance and insurance from 2012 to 2018.
| Year | Median Salary | Yearly Growth | 6-Year Growth |
|---|---|---|---|
| 2018 | $62,010 | -2.66% | 4.92% |
| 2017 | $63,660 | 1.96% | - |
| 2016 | $62,410 | 0.48% | - |
| 2015 | $62,110 | 1.16% | - |
| 2014 | $61,390 | 1.53% | - |
| 2013 | $60,450 | 2.46% | - |
| 2012 | $58,960 | - | - |
The average salaries of loan officers in six industries in the finance and insurance sector are shown below. We note that within this industry sector, the salaries vary among different industries. The highest paying industry for loan officer occupations is the monetary authorities-central bank industry with an annual salary $77,590. The lowest paying industry is the activities related to credit intermediation industry (annual salary $61,540). For detailed loan officer salary information in a particular industry, use the links provided below.
Data source: The national compensation survey conducted by the U.S. Bureau of Labor Statistics (BLS) in 2018 and published in April 2019 [1].